ECB purchases put Italian RMBS resales on hold

By Tom Porter
11 Sep 2014

Some Italian mortgage originators preparing to re-market retained RMBS transactions in the next few months have put their plans on hold, waiting to see if they can trim costs by selling them to the European Central Bank rather than on the open market.

Italian RMBS has returned to prominence this year as investors’ preferred play on a rally in periphery ABS spreads. Spreads on single-A Italian RMBS in the three to five year bucket have collapsed from around 350bp at the start of the year to just over 100bp now, according ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial